The Nasdaq stock exchange has listed an index of crypto’s top 100 coins alongside traditional market bellwethers like the S&P 500 and the Dow.
Powered by artificial intelligence, the CIX100 is designed by Cryptoindex.com to give Wall Street traders a quick and comprehensive view of the crypto markets’ real-time performance, the company said.
The index had previously been listed by Reuters, Bloomberg and Tradingview.
And it works without human intervention, according to Cryptoindex.com. The index’s “Zorax” algorithm trawls through data from over 1,800 tokens to develop a live account of the marketplace, free of inflated offerings.
“We make sure our index includes only [coins] that have no fake volume, have no manipulation, that come from scrupulous companies,” Cryptoindex Project Manager Kirill Marchenko told CoinDesk.
The CIX100 does so with layers of neural networks, benchmarks and other features, Marchenko said. Coins must remain among the top 200 by market cap for at least three months to be considered by the AI.
The listing is another sign of crypto’s march toward the mainstream.
“We’ve become a more accessible and convenient financial instrument for all types of investors, not only professional,” Marchenko said.
Nasdaq image via Shutterstock